IN has dropped over 42% in the past 24 hours, INFINIT reveals price fluctuation was caused by dumping from a single wallet

Foresight News reports that INFINIT has issued a statement regarding the abnormal price fluctuations of the IN token, denying that the platform suffered a hacker attack or any security breach, and stating that user funds are safe. According to INFINIT, the incident was caused when a certain wallet withdrew approximately 9 million IN tokens from Bitget and another exchange early this morning, transferred them from Ethereum to the BNB chain via the LayerZero cross-chain bridge, and then sold them on PancakeSwap. INFINIT characterized this as a "market integrity issue" and stated they are working with related exchanges to trace the responsible party.

According to Bitget market data, the IN token surged to 0.37 USDT early this morning before plummeting, and is currently reported at 0.068 USDT, with a 24-hour drop of 42.52%.